Dublin, Jan. 11, 2024 (GLOBE NEWSWIRE) — The “Global Nootropics Market Size, Share & Trends Analysis Report by Form (Capsules/ Tablets, Powder, Drinks), Distribution Channel (Online, Offline), Region, and Segment Forecasts, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The global nootropics market size was estimated to reach USD 11.17 billion in 2030 and is expected to grow at a CAGR of 14.6% from 2023 to 2030
The global market has witnessed increased growth in the last few years, which is expected to continue over the forecast period. This growth is driven by the increasing awareness among consumers regarding the cognitive health benefits of nootropics and their desire to improve mental performance. As the global population ages, there is a growing interest in products that support brain health, and nootropics are seen as a viable option. In addition, the prevalence of stress and mental health concerns is propelling individuals to explore cognitive enhancers.
Nootropic capsules have higher penetration as they are easy to take and do not require any preparation or mixing. Consumers can simply swallow a capsule with water, making it a convenient option for those with busy lifestyles. Capsules provide precise and consistent dosages of nootropic ingredients. This is particularly important when it comes to cognitive enhancers, as accurate dosing is crucial for achieving the desired effects. Capsules are a common form of pharmaceuticals and dietary supplements, which can enhance the perceived credibility of nootropic products.
Nootropics manufacturers are increasingly prioritizing natural ingredients in response to the growing consumer demand for such products. For instance, in October 2021, XITE, a nootropic energy drinks brand, launched a nootropic vegan protein bar to appeal to the growing consumer base of mind health-conscious consumers.
The bars are packed with nootropics, such as caffeine, L-theanine, and ashwagandha, which are claimed to improve cognitive function, focus, and energy level. Similarly, in April 2019, Gaia Herbs launched new vegan supplements called Bacopa made using Bacopa; Nootropic Focus made with saffron, lemon balm, and spearmint; and Agile Mind made with Bacopa, gingko, and turmeric.
Nootropics Market Report Highlights
- Based on form, the capsule/ tablets nootropics segment held the largest share of 49.2% in 2022. Capsules and tablets effectively mask the unpleasant taste of many nootropics, making them easier to swallow compared to powdered supplements. In addition, the encapsulation or tableting process prolongs ingredients’ shelf life by shielding them from exposure to air and moisture, reducing the risk of contamination
- In terms of distribution channel, the online segment is anticipated to grow at a CAGR of 16.2% from 2023 to 2030. The convenience and popularity of online shopping and the availability of a wide variety of nootropics through this channel are key factors driving the distribution segment
- North America held a major share of over 41.2% of the global market in 2022. This can be attributed to the rising trend of health consciousness among North Americans, leading to a heightened interest in maintaining a healthy diet and lifestyle. The region’s focus on wellness and preventive healthcare drives the demand for nootropics
Company Profiles
- Onnit Labs, Inc.
- Reckitt Benckiser Group PLC
- Mental Mojo, LLC
- NooCube
- Mind Lab Pro (Performance Lab Group Ltd)
- TruBrain
- Neu Mind, LLC
- Nooflux LLC
- Zhou Nutrition
- Kimera Koffee
Key Attributes:
| Report Attribute | Details |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $3.75 Billion |
| Forecasted Market Value (USD) by 2030 | $11.17 Billion |
| Compound Annual Growth Rate | 14.6% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Distribution Channel Outlook
2.4. Regional Outlook
Chapter 3. Nootropics Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Sales/Retail Channel Analysis
3.2.2. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis – Porter’s Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographics Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Key Observations & Findings
Chapter 5. Nootropics Market: Form Estimates & Trend Analysis
5.1. Form Movement Analysis & Market Share, 2022 & 2030
5.2. Capsules/Tablets
5.3. Powder
5.4. Drinks
5.5. Others
Chapter 6. Nootropics Market: Distribution Channel Range Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2022 & 2030
6.2. Offline
6.3. Online
Chapter 7. Nootropics Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2022 & 2030
7.1.1. Market estimates and forecast, 2017-2030 (USD Million)
7.1.2. Market estimates and forecast, by form, 2017-2030 (USD Million)
7.1.3. Market estimates and forecast, by distribution channel, 2017-2030 (USD Million)
Chapter 8. Competitive Analysis
8.1. Recent developments & impact analysis, by key market participants
8.2. Company Categorization
8.3. Participant’s Overview
8.4. Financial Performance
8.5. Product Benchmarking
8.6. Company Market Share Analysis, 2022 (%)
8.7. Company Heat Map Analysis
8.8. Strategy Mapping
For more information about this report visit https://www.researchandmarkets.com/r/fxbvp3
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